Global Private Wealth Now $152 Trillion
The value of the private wealth of households rose by 14% last year to an eye watering $152 trillion. Much of the growth was from rising stock markets. In North America there was an above average rise of 15.6% to reach just over $50 trillion, the largest region in value, but Asia-Pacific saw the biggest growth, rising by 37% last year. China’s households saw particular growth in wealth, gaining 49%. Relative economic stability in the US and Europe and recovery seen in many regions, helped the rise in share values. Read the full story.
China’s Inflation Data Boosts Shares
Asian markets saw some gains on Tuesday following inflation figures from China which saw an increase of 2.5%, slightly up on predictions. Read the full story.
Students Get More Relief On Loans
President Obama has extended the Pay As Your Earn scheme to allow more students to benefit from a cap on repayments. Under the extended rules which will come into force later in the year, those who took out loans after September 2007 will pay no more than 10% of their income and loans will be forgiven after 20 years. Figures show that the majority of students graduate with almost $30,000 of debt. On signing the executive order, President Obama acknowledged the value of education and what is has done for him. Read the full story.